Remitano reportedly loses $2.7M in a crypto hack as the Lazarus Group strikes again, with Tether’s $1.4M freeze offering recovery.
The Remitano cryptocurrency exchange encountered a security risk on Thursday. Suspicious withdrawals totalling over $2.7 million in various digital currencies took place. Tether promptly froze $1.4 million, protecting a large portion of the assets.
Remitano Heist Details
At 12:45 p.m., an alert was triggered when a recognizable Remitano hot wallet started transferring funds to an unknown address. The allegedly fraudulent transactions included Tether worth $1.4 million, USD Coin worth $208,000, and Ankr tokens worth $2,000 at the time. As a result, Cyvers, a blockchain analytics platform, released a quick alert to the crypto community.
Lazarus Group In The Spotlight For North Korean Ties
In addition, Remitano, which targets developing nations such as Ghana, Cambodia, and India, has not yet issued an official statement regarding the breach. Several Crypto exchange breaches in 2023 exposed private keys and caused major heists.
Additionally, according to U.S. authorities, the Lazarus Group, which is thought to be associated with the North Korean government, is responsible for these unlawful acts. In addition to Remitano, the group has been reported to have stolen $41 million from the Stake gambling website and another $27 million from Coinex.
Furthermore, the Lazarus Group’s thefts, including the Stake platform hack, are likely to have totalled more than $200 million this year alone. The FBI has warned crypto companies to stay alert and avoid transactions linked to blacklisted addresses associated with the group.
While digital currencies have significant advantages, the possibility of high-value crime remains a concern. As these attacks increase in frequency, it emphasizes the significance of strong security processes and prompt remedies to safeguard investor assets.